While demanding action by government on several long pending demands, INBEF, the banking unit of INTUC, has also proposed a loan restructuring scheme for farmers

The Indian National Bank Employees Federation (INBEF), banking wing of INTUC said it will hold a day long dharna at Jantarmantar in Delhi on 4 March 2016 for several long pending demands as well as for introducing an agriculture loan restructuring policy for farmers.

"Contrary to introduction of 5:25 policy for big corporate houses, INBEF has demanded introduction of 2:10 and 3:12 policy for restructuring of agricultural loans of farmers. Poor farmers are suffering year after year due to bad weather conditions and do not have any income for repayment of their loans. Thousands of farmers are committing suicides as no one is taking serious interest in resolving their problems," says Subhash S Sawant, General Secretary of INBEF in a statement.

INBEF says it is on the path of agitation since long on the burning issue of non-performing assets (NPAs), writing off of huge quantum of bad debts, one time settlement of mounting bad debts in a throw away price in the banking industry, which are paving the way to big corporates to enjoy the public funds at their whims and caprices.

"As per the latest statement made by Reserve Bank of India (RBI) Governor, the NPAs of public sector banks (PSBs) will reach Rs3.15 lakh crore by March, 2016 and the percentage of NPAs will be over 6% of loans. Over 80% of the NPAs are by corporate houses. NPA culture is built to make loot of public money in absence of stringent action against bad borrowers. A total of 27 PSBs have written off a staggering Rs1.14 lakh crore of bad loans during 2012-15, with the last fiscal alone witnessing a steep 53% rise in write-offs as part of the balance-sheet clean up. The bad debts written-off between 2004 and 2015 were Rs2.11 lakh crore, a huge loot of public money," INBEF said.

It further said, "The RBI, instead of taking strong action against the wilful defaulters has allowed flexible structuring of long term project loans to infrastructure and core industries in the name of 5:25 policy. Under this policy loans can be restructured for repayment up to 25 years or more. This policy is framed with a view to help large corporates. This facilitates misappropriation of public money and RBI may lose surveillance over the big ticket borrowers after scheduled commercial Banks exercise their powers to reconstruct such loans. We oppose this reconstruction policy and demand its withdrawal immediately, and take immediate steps for recovery of such loans."

Calling the government's decision to infuse capital in selected eight banks as discrimination, the employee union said that this will adversely affect existence of weak bank, who are in dire need of capital. "The Government in September 2015, has infused Rs13,955 crore capital in eight banks, including State Bank of India (SBI), Bank of Baroda (BoB), Punjab National Bank (PNB), Canara Bank, Dena Bank, Andhra Bank and Corporation Bank. The weak banks will not be provided capital by the government. This decision of the government is against the weak banks which are in need of support. The decision will adversely affect the existence of weak banks. It is indirectly aimed at merger or closures of the weak banks or privatising them," it added.

INBEF said it strongly feels that the onus of decreasing net profit of the nationalised banks despite huge increase in gross profit shouldn't be transferred on the shoulder of the crores of depositors as well as the bank employees. The income of the senior citizens who are carrying on their livelihood out of the interest earned by them from their Bank deposits are decreasing steadily due to decrease in interest rates, it said.

The bank union also demanded updation of pension for employees, and implementation of government guidelines on transfer of female employees. "We strongly oppose the moves of the management to victimise the trade union activists as well as withdrawing the trade union rights of INBEF," it further said.

Here is the scheme proposed by the union on re-structuring of agricultural loans for farmers...

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B. Yerram Raju

10 months ago

Banks amply demonstrated that they are lending to agriculture and MSEs only under compulsive direct lending portfolio. There is nothing public now among public sector banks excepting Jan Dhan and Mudra which they are doing forced by circumstances and under the CGTMSE guarantee mechanism. They have never achieved the targets under the Agriculture at 18% of ANBC and over 7% under MSEs. There is continuous pressure on various committees and RBI to widen the scope of priority sector to camouflage the targets. It is time that RBI accepts the reality and innovate funding options for the farm and non-farm rural sector through non-deposit based banking - or donor based lending when the increased supply of credit for these sectors would find market based interest mechanisms and prompt recycling mechanisms. Natural calamities are of various types and same type of formula for restructuring does not help. In the case of cyclones, soil becomes saline and need treatment to regain their lost strength while in the case of floods crop is lost and cattle may have been washed out. But the crop during the next season will be bumper crop compensating in multiple times by nature itself due to silt accumulation on the soil after waters recede. But in both the cases the restructuring formula is same for the farm credit. Where the asset is totally lost and even dwelling house is lost like in either HUd Hud or other typhoons, the Government should write off the loans and pay up the banks so that credit for the next season would be made available in time. there is need for fresh thinking on the subject.

Developers can use the new TrueSDK feature to sign up and update a user's information or verify a user's phone number-based identity in their mobile apps with the user's consent

Mobile communication app Truecaller on Thursday unveiled a new feature which enables third party apps to easily onboard users with their Truecaller profile and Truecaller verified numbers.

Developers can use the new TrueSDK feature to sign up and update a user's information or verify a user's phone number-based identity in their mobile apps with the user's consent.

"Our aim is to empower third party apps with a credible verification option and enable users to use the app of their choice by making their phone numbers their identity," said Truecaller co-founder and chief strategy officer Nami Zarringhalam in a statement.

The feature facilitates easy and seamless engagement with third party apps using a user's verified credentials.

The feature is currently available only to Android-based third party apps registered with Truecaller and will be opened to all in the future.

Truecaller launched the app with 12 partners which are already using the TrueSDK feature.

These are Quikr, Mobikwik, redBus, CarDekho, BharatMatrimony.com, ixigo, OYO Rooms, TO THE NEW Digital, FreshMenu, Terraa, Cash Care and ShopClues.

Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

VAAFT is an improved surgical procedure and people should prefer it due to it being a painless treatment and which gives no problems in bowel movement after the procedure, experts say.

The treatment requires no incision, making the process friendly and helps the patient restart normal life easily.

"Though there are various ways to treat anal fistula, some are conventional methods, which involve surgery. Treatment practices like fistulutomy/ fistulectomy involve removal of the complete fistula tract with the help of a knife, causing a lot of pain and bleeding," said Ashish Bhanot, chief bariatric surgeon at Apollo Spectra Hospital.

He said the previous methods caused large wounds and the patient required long hospitalisation and daily dressing, which usually take a long time to heal and require daily treatment. There are also slightly higher chances of recurrence.

On the VAAFT technique, Bhanot said: "Doctors can identify the internal opening of the fistula tract with the help of an endoscope which navigates through the tract under vision.

"The fistula is removed through a special electric current and after removal, the opening is shut with the help of fibrin glue," he said.

Santosh Ruia, surgeon at Safdarjung Hospital, said: "VAAFT is being done in India with perfection, and has thus attracted a lot of patients from Afghanistan, Middle East and even European countries."

On post-treatment care, Ruia said: "The most crucial thing is to maintain anal hygiene, toilet hygiene, having sex with protection, avoiding spicy food and excessive sedatives and pain killers."

He suggested people should immediately get themselves checked if they witness symptoms such as pain, swelling and bleeding while passing stool, pain in bowel movements, difficulty in performing normal activities, reddening on the opening of skin and discharge of pus.

He said a clinical evaluation including a digital rectal examination is well enough to diagnose anal fistula, but many a times tests like MRI, ultrasound, proctoscope, fistula probe and fistulogram are also done to understand the path of the fistula.

Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.